Internal Audit Director
Closing date: 31/12/2022
The Internal Audit Director is responsible for:
1.Identify and reduce all business and financial risks through effective implementation and monitoring of controls over operations’ effectiveness, financial reliability and compliance with all applicable directives and regulations.
2.overseeing Internal Audit Function, including the development of an internal audit plan to consistently monitoring the company business practices and functions such as Operations, Finance, IT, overall compliance, etc..
3.coordination of reporting to require by different corporate and governmental bodies , like KH Senior Management, Audit Committee, State Audit Bureau, etc. Act as an objective source of independent advice to ensure validity, legality and goal achievement
4.recommendations on process improvement and internal controls of the company
5.review of internal audit reports (including those done by 3rd parties and hotel’s operators) and follow-up on the planning, execution, and monitoring of audit phases.
1.Guide the development of internal audit strategy and annual plan in line with KH’s business (i.e., asset owner and manager, developer, operator) and corporate scopes and objectives
2.Present audit plans to the Board Audit Committee
3.Manage the development of internal audit methodology, reporting framework, and tools including control matrix, taking into consideration both, corporate and business aspects and ensuring adherence with applicable regulations.
4.Lead the identification of key controls required for proper assessment of risks at both corporate and business levels
5.Oversee the development and management of detailed internal audit plan including financial, operational, and IT to assess compliance of functions with policies, procedures, processes, and guidelines
6.Ensure and effective communication and coordination of audit plans with concerned KH functions
1.Coordinate audit procedures in accordance with the approved audit plan
2.Manage financial, operational, and IT internal audit interventions as per plan, program, and schedule to secure compliance with applicable regulations and procedures
3.Ensure proper evaluation of the operating effectiveness of key controls at corporate and business levels, when applicable
4.Lead the development of periodic reports highlighting issues identified
Reporting and Closing
1.Revise developed periodic reports, review issues, and conduct overall assessment
2.Approve on recommendations and corrective actions to be implemented, and provide suggestions for escalated violations / cases
3.Ensure that internal audit findings, corrective actions, and respective timeframe are clearly communicated to concerned functions and ensure the provision of support when required
4.To report regularly to the Board Audit Committee and KH CEO relevant findings , recommendations and conclusions to support an efficient decision making.
5.Coordinate regulatory and specific assignments with other third-party auditors (State Audit Be State Audit Bureau, other governance bodies, etc.).
6.Coordinate the meeting with Katara Hospitality Audit Committee and external auditors.
Tracking and Monitoring
1.Maintain relationships with concerned KH functions and regulatory bodies to facilitate data collection and submission process for better monitoring
2.Establish continuous internal audit and follow up on corrective actions implementation to secure efficient internal controls and mitigate associated risks at corporate and business levels
3.Monitor historic trends and evolution of issues reported through trends analysis and KPIs
4.Evaluate risk management activities within the organization
5.Determine the organization’s compliance with relevant laws and regulations.
6.Evaluate and making recommendations that can assist in improving internal controls.
7.Conduct ad hoc investigations into identified or reported risks.
8.Develop, implement and maintain internal audit policies and procedures in accordance with local and international best practice.
9.Maintain open communication with management and audit committee
10.Engage in continuous knowledge development regarding sector’s rules, regulations, best practices, tools, techniques and performance standards
QUALIFICATION AND EXPERIENCE
Knowledge and Experience:
1.9+ years of experience in an Internal Audit field with at least 3 years of experience in a senior managerial role
2.Previous experience in hospitality asset management sectors is required
Education and Certifications:
3.Bachelor’s Degree in Business Administration or Internal Audit or Finance or a related field
4.Master’s degree in Financial and Legal Compliance and Regulation, Quality Control Management or equivalent is preferred
5.CIA certification is a must